Border trade tops nearly $8.8 bln this FY

Trade between Myanmar and its four neighbouring countries has reached nearly US$8.8 billion in the first ten months of this financial year to date, down over $930 million compared with the same period last year, according to the Ministry of Commerce.
From 1 October to 20 August of the 2020-21FY, the total border trade value amounted to $8.790 billion. This year border trade dropped by over $ 930 million, compared to the same period of last FY when it amounted to $ 9.713 billion, the ministry’s figures said.
Myanmar shares borders with China, Thailand, India and Bangladesh. During the period, the country’s export via land borders earned over $5.81 billion, while its import shared over $298 billion.
Myanmar has opened 18 border trade camps. The country conducts border trade with neighbouring China through Muse, Lwejel, Kampaiti, Chinshwehaw and Kengtung, with Thailand via Tachilek, Myawady, Kawthoung, Myeik, Hteekhee, Mawtaung and Meisei border checkpoints, with Bangladesh via Sittway and Maungtaw, and with India through Tamu and Reed border crossings, respectively.
Myanmar mainly exports agricultural products, animal products, marine products, minerals, forest products, manufactured goods and other commodities, while capital goods, intermediate goods and consumer goods are imported to the country.
During the over 10 months of this FY, the total external trade value was only $25.7 billion, down 16 per cent from the same period last year, according to the Ministry of Commerce. — ACM/GNLM